1. “6 Things You Need To Have Prior
To Opening a Small Business”
© Copyright Ewen Chia
www.TheOnlineGuru.com
After much thought, you have finally decided on starting and opening a small business.
Right now, you have the idea and concept. Your financial resources are also just about
enough to let you establish something. And because of that you feel that you are finally
ready to plunge headfirst into the world of entrepreneurs.
But the question is, is money coupled with a good concept enough to let you start and
eventually keep you going?
You can ask this question to a lot of successful entrepreneurs and you are more likely to
get one answer - no. You need to have a few other things apart from that. What are those
things you ask? Here is a list of them for your reference.
1. A customized business plan
A business plan as implied is a detailed write - up of everything that has anything to do
with your business. In it, you are expected to make your company profile, state your
goals and objectives, list down all the equipment that you need and lay out your future
plans for expansion. As such, this write - up is very important because it keeps you on top
of things and it limits your possibilities of creating crucial mistakes.
You can also look at it this way, opening a small business without a plan is like driving
with a blindfold. You can move the car yes, but sooner or later you are bound to crash.
2. An office or a workstation
For you to be taken seriously by your clients, you have to have an office where you can
concentrate in your work and work comfortably. If you do not have enough money to rent
a separate space, you can always designate one room in your house to be your temporary
business office.
3. A separate bank account for your business

2. This is very crucial because mixing your own money with the company's finances can get
you in trouble. Plus, keeping track of money is harder if everything is mixed up in one
account.
4. A business permit
A permit may or may not be needed depending on the following things:
- The state or county where you live in
- The type of venture you decide to enter
- How small or big your business is
To know if you need one in your area, you can always contact your local government for
further guidance.
5. A tax identification number
This is to avoid having any problems with the IRS of course.
6. A separate phone line, an email address and a website
All of these would allow your customers/ clients to contact you directly should they need
to. In addition, establishing a website is wise because you can also use it to advertise your
goods and services.
Those are the things that you should have prior to opening a small business. Right now,
they may seem a lot but those things are important because they will, in most cases help
you run your own business smoothly and hassle - free.
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